In the measurement of inequality, adjustments for differences across households in their demographic composition and in the price regimes they face are usually very simple. Often, nominal income is adjusted with an income-independent price deflator and a price-independent equivalence scale. I...

East Asia Through a Glass Darkly: Disparate Lenses on the Road to Damascus" This paper asks whether the Asian Crisis was a failure of Asian capitalism, or a failure of market capitalism. It begins with a stylized chronology of events that is broadly consistent with either hypothesis. It then...

A generalization of the Cauchy-Schwarz inequality for expectations of matrices is proved.